Bankruptcy can be a terribly intrusive process to go through. You have to reveal every source of income, every expense, and every asset. Your credit cards will be scoured for any inappropriate transactions as will your bank accounts. You will even have to provide records of accounts such as PayPal, and perhaps a history of [...]
No one wants to admit that their situation is such that bankruptcy is the only option. In reality, the sooner you can admit this fact, the sooner you can start to resolve your financial situation. There are millions of Americans now facing financial difficulties and while the economy is improving, many will continue to struggle [...]
The costs associated with engaging a bankruptcy lawyer can be high, however, in the long run, their services often save a bankrupt a lot of money. Simple mistakes in your petition can see the court dismissing it, forcing you to file again, and to pay the filing fees a second time. There is one important [...]
One of the biggest barriers to filing for bankruptcy for many people is doubt. There is a general feeling in the community that bankruptcy punishes the debtor and gives all the power to creditors. While the opposite is certainly not true, the bankruptcy acts have been framed to provide protection to both debtors and creditors. [...]
If you had a brain tumor, would you let your local doctor operate on you? The same analogy can be used for many areas of law, and bankruptcy is one area where a specialist bankruptcy lawyer is generally the wiser choice. That’s not to say a general practice lawyer cannot prepare a bankruptcy petition for [...]
Everyone who files a Chapter 7 or Chapter 13 petition for bankruptcy has to complete a bankruptcy debtor education course. Failing to complete the course could see your petition dismissed rather than discharged and dismissal means you are still liable for all debts. Not only that, but if your failure to complete the course is [...]
Although bankruptcy is covered by federal legislation, there are local laws in each state that also need to be addressed. One of these covers what can and cannot be included in the exempt assets component of a bankruptcy petition. There are 16 states that allow petitioners (debtors) to select either state of federal law, the [...]
